During the past two weeks, domestic cold rolled coil (CRC) prices in Turkey have moved up in parallel with the increases recorded in domestic hot rolled coil (HRC) quotations. It is observed that Turkish buyers have continued to purchase only in line with their needs in the period in question due to the end-of-Ramadan holiday. Market sources state that inventory levels in the local Turkish CRC market are at significantly low levels, and so buyers are expected to accelerate their purchases after the snap elections to be held on Sunday, June 24. Meanwhile, Turkish producers have raised their CRC prices by $30/mt week on week to $680-700/mt ex-works.
In the spot market, prices of domestic CRC sold by local traders have increased by an average of $10/mt week on week.
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
730-740 |
740-760 |
|
0.7-2 mm CRC |
700-710 |
710-730 |
The offers are on ex-warehouse basis, for June delivery, and exclude 18 percent VAT.